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  • Facebook first-quarter revenue grows 72 percent

    A smartphone user shows the Facebook application on his phone in Zenica, in this photo illustrationFacebook Inc's mobile advertising business continued to accelerate in the first three months of the year, helping the Internet social networking company top Wall Street's revenue target. Facebook said that mobile ads represented 59 percent of its ad revenue in the first quarter, up from 30 percent in the year-ago period. Facebook's overall revenue grew 72 percent year-on-year to $2.5 billion in the first quarter, above the $2.36 billion expected by analysts polled by Thomson Reuters I/B/E/S. (Reporting by Alexei Oreskovic;


  • Wall Street slips; six-session winning streak ends

    Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - U.S. stocks dipped on Wednesday to snap a six-session winning streak as gains in Boeing and Gilead were offset by slides in AT&T and the wider biotech sector. Based on the latest available data, the Dow Jones industrial average fell 12.72 points or 0.08 percent, to end unofficially at 16,501.65. The S&P 500 dropped 4.16 points or 0.22 percent, to 1,875.39. The Nasdaq Composite declined 34.491 points or 0.83 percent, to 4,126.967. (Reporting by Caroline Valetkevitch; Editing by Jan Paschal)


  • Buffett says abstained from voting on Coca-Cola's compensation plan

    Buffett, co-chair of the 10,000 Small Businesses Advisory Council, takes part in a panel discussion in Detroit, Michigan(Reuters) - Warren Buffett, chairman of conglomerate Berkshire Hathaway , on Wednesday said he thinks Coca-Cola's controversial equity compensation plan was excessive, but that Berkshire Hathaway abstained in the shareholders vote. Earlier on Wednesday, Coca-Cola said 83 percent of shareholders approved the plan. Critics, most notably activist investor David Winters, said the plan would dilute the holdings of current shareholders too much. As of December 31, Berkshire owned 400 million shares of the company, just over 9 percent of the shares outstanding.



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